Short Sales are here to stay..for awhile anyway!
By Kimberley Kelly, SFR, HAFA, GREEN, I do Real Estate like I played polo-to WIN!
(HK Lane, Christie's International Affiliate, 760-285-3578)
Short Sale's won't stop.. Short Sales are here to stay....for awhile anyway. Just my opinion of course, but it would appear that with unemployment remaining high and the demand for housing flat, not too hard to predict. Sales are up approx. 25% in our desert region..great news! Inventory in particular developments in particular areas is low..hooray again! But..we won't be seeing many new housing starts and there truly is a backlog of "shadow inventory" somewhere. Those loans are there, we just don't see them...yet. I have been reading about "shadow Inventory" for several years now. From dealing with the Lenders on the Short Sales I have been working, it still feels like they are not ready to sell these properties until they are READY. What I mean is, if an offer comes alon...
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